Jefferies Group: Financial Winners & Losers

Financial stocks experienced a down day for the most part, particularly those most exposed to investment banking operations after Jefferies Group.
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NEW YORK (

TheStreet

) -- Financial stocks experienced a down day for the most part, particularly those most exposed to investment banking operations after

Jefferies Group

(JEF) - Get Report

reported disappointing third quarter results on weak trading results.

Jefferies fell 2.5% to $22.43, but investors extrapolated the news to other firms that will report third quarter earnings next month.

Goldman Sachs

(GS) - Get Report

closed down 2.1% to $144.91 and

JPMorgan Chase

(JPM) - Get Report

fell 2.1% to $39.10 on Thursday, among other firms.

HSBC

(HBC)

shares dropped somewhat on Thursday as speculation continued that

CEO Michael Geoghegan

threatened to leave the firm after being passed up for the chairmanship position. New reports Thursday say that

HSBC's CFO Douglas Flint

was in the lead to assume the chairman position.

HSBC apparently has a history of promoting its chief executives to chairman, but seemed to be leaning towards other front runners to replace Stephen Green, the current chairman. Green is leaving at the end of the year to become U.K.'s trade minister.

Economic data earlier in the day didn't help financial stocks. The Labor Department said initial weekly jobless claims rose more than expected.

Banks including

Wells Fargo

(WFC) - Get Report

,

Zions Bancorp

(ZION) - Get Report

and

U.S. Bancorp

(USB) - Get Report

slid between 2% and 3% on Thursday.

There were few bright spots for the day, but several regional banks ended the day in the black, including

PNC Financial Services

(PNC) - Get Report

,

First Horizon

(FHN) - Get Report

and

Synovus

(SNV) - Get Report

.

Other winners included electronic payment giants,

Visa

(V) - Get Report

and

MasterCard

(MA) - Get Report

.

--Written by Laurie Kulikowski in New York.

To contact the writer of this article, click here:

Laurie Kulikowski

.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.